If you lease a car, please just remove yourself from the gene pool

[milesgiles1]

Whether it's 300 a month,500 a month, 2k a month.. doesn't matter. Crazy. Yeah, it's 300 the first month, but in 2,3 or 5 years, for what is now a sharply depreciated asset, it's still.. 300 a month! For a car you don't even own!

Nutters. Borrow only to invest. A car is not an investment. Cash only, at all times.

Only my opinion. Although I'm definitely potato.

[DirtyDon123]

See you crawled out of the red my man

[W1LLW]

gonna go out on a limb and say you earn under 60k?

[eXistenceLies]

Whether it's 300 a month,500 a month, 2k a month.. doesn't matter. Crazy. Yeah, it's 300 the first month, but in 2,3 or 5 years, for what is now a sharply depreciated asset, it's still.. 300 a month! For a car you don't even own!

Nutters. Borrow only to invest. A car is not an investment. Cash only, at all times.

Only my opinion. Although I'm definitely right.

You're right. A car is NOT an investment (only very rarely they are. 2006 Ford GT for instance). So what is wrong with leasing a car? Comes with a full bumper to bumper warranty. Free service. Newest model every 2-3 years. I don't see the problem if you have the money for it?

[enzo818]

Have you heard of tax deductions? Rich people lease all the time for tax benefits. Why would they spend cash on a depreciating asset when they can use that capital for a real estate investment.

[residesinAZ]

You're paying that amount of money a month for the privilege to drive a nice car that you don't carry any responsibility for, just lol at buying a car
BRB maintenance
BRB stress
BRB depreciating asset

[MetroBrah]

If it is a depreciating asset, yes?....why would it be so beneficial to own it? Although, it isn't black and white, I do own my car, only because of mileage reasons. Otherwise, lease/10

[NukYavlen]

You don't keep a leased car for 5 years you dumb cuck.

[wesleysh21]

You're right. A car is NOT an investment (only very rarely they are. 2006 Ford GT for instance). So what is wrong with leasing a car? Comes with a full bumper to bumper warranty. Free service. Newest model every 2-3 years. I don't see the problem if you have the money for it?

I'd also say he hasn't really sat down and done the math. Not all leases are created equal. I remember I leased a truck once. It was definitely a cheaper payment than if I would have bought it new. But then at the end of the lease, I had a buyout option price of X dollars. Guess what? To buy that exact same truck in similar condition would have cost more than my buyout option. So I not only saved monthly vs new but I could even buy out cheaper at the end vs used.

Sure if you are someone who buys and keeps cars for 10+ years leasing isn't going to make sense. But to the average person who doesn't drive each vehicle until the wheels fall off, its definitely an option worth considering.

[milesgiles1]

Have you heard of tax deductions? Rich people lease all the time for tax benefits. Why would they spend cash on a depreciating asset when they can use that capital for a real estate investment.

Only if they are fraudulently claiming it for business. Even then they would get the same deduction by paying cash and claiming the wear and tear. Show me a worked example of the benefit of leasing. I reject your reality

[eXistenceLies]

I'd also say he hasn't really sat down and done the math. Not all leases are created equal. I remember I leased a truck once. It was definitely a cheaper payment than if I would have bought it new. But then at the end of the lease, I had a buyout option price of X dollars. Guess what? To buy that exact same truck in similar condition would have cost more than my buyout option. So I not only saved monthly vs new but I could even buy out cheaper at the end vs used.

Sure if you are someone who buys and keeps cars for 10+ years leasing isn't going to make sense. But to the average person who doesn't drive each vehicle until the wheels fall off, its definitely an option worth considering.

Of course. I def agree with you. I've never leased since I always buy used vehicles and keep them for 4 or 5 years then move onto the next used one. I am sure in the end leasing vs buying used probably comes out pretty evenly. Of course that depends on how lucky you get with not paying arm and a leg on a lemon car.

[enzo818]

Only if they are fraudulently claiming it for business. Even then they would get the same deduction by paying cash and claiming the wear and tear. Show me a worked example of the benefit of leasing. I reject your reality

Sorry pal, but you are making a lot of assumptions. They both have benefits and drawbacks.

https://cars.usnews.com/cars-trucks/buying-vs-leasing

[milesgiles1]

gonna go out on a limb and say you earn under 60k?

Nope.. but it's the poorest people that lease. That's why they are poor.

[milesgiles1]

See you crawled out of the red my man

Cannot keep quality posters down

[gixxer0.6g]

Oh this thread again. Next up by OP, if you don't buy a house you're just throwing your money away.

[milesgiles1]

Sorry pal, but you are making a lot of assumptions. They both have benefits and drawbacks.

https://cars.usnews.com/cars-trucks/buying-vs-leasing

Asked you to show me a worked example for the case of tax deductions though

[HockeyBacon18]

what about people who are able to write it enough as a business expense in regards to tax purposes.

[EliteBrah]

dumbass
tell me whats the difference between a $700 car note vs a $300 dollar lease payment? when you sell you only get maybe ~405 back from the 700. So a net gain of 5 dollars per month owning instead of leasing but to get that you have to lay out way more monthly

If you look at the actual net value of payments its only 200-500 dollars more expensive (total) to lease; depending on vehicle. Yet the payments are sometimes a fraction of the cost for owning.

And thats assuming you eventually sell your **** car on the open market; not trade it in the dealer for less. Otherwise the lease is actually cheaper.

Soooo.... significantly less money output (monthly), almost no money down, leave the dealer with a brand new car that you trade in 3 years later for another. Usually no maintenance costs in that time frame

Unless you drive over 15k miles per year or you plan to own for a long time without monthly payments, a lease >>>>>>

[gharlow]

Get a lease allowance as a perk through my company, not even mad.

[milesgiles1]

You're right. A car is NOT an investment (only very rarely they are. 2006 Ford GT for instance). So what is wrong with leasing a car? Comes with a full bumper to bumper warranty. Free service. Newest model every 2-3 years. I don't see the problem if you have the money for it?

Because you WILL pay more. The dealer isn't being a nice guy you know. He's maximising his profit

[Wwchamp]

Gotta love when tards take complex issues that have both pros and cons and make it black or white....

[GnarlySheen]

Sounds like OP went to a car dealership and was rejected the lease he wanted because he has shyt credit.

[EliteBrah]

Because you WILL pay more. The dealer isn't being a nice guy you know. He's maximising his profit

he's maximizing his profit on both sales......
When you negotiate a lease you actually come in as if you are buying the car. When you agree on a number u tell the salesmen to go back as set it up as a lease. They cant add more money off the top. The dealer gets a set money factor and assumed deprecation values that are set in stone. They also cant control the lease agreement terms and % thats up to corporate.

[gixxer0.6g]

Because you WILL pay more. The dealer isn't being a nice guy you know. He's maximising his profit

Show me the spreadsheet including maintenance, warranty issues, trade-in value, and the money saved providing a 7% ROI.

Simpleton.

[MetroBrah]

Gotta love when tards take complex issues that have both pros and cons and make it black or white....

this

OP heard one thing from Dave Ramsey "pay cash for your car". Now it is the end all be all for everyone's situation smh. It's a common problem of having just enough information to be dangerous, when people don't fully understand something. When the only tool you have is a hammer, every problem looks like a nail.

[J1n]

LMAO my cousin who's pretty rich leases cars sometimes. it depends on what its for, he leased an m3 for his wife. He owns a bunch of cars, he only buys the ones he plans on keeping long term. like his 911 turbo s and 911 gt3.

[allianc3]

O p p o r t u n i t y

c o s t

[aranadiscoteca]

[Acal83]

Work for an auto finance company. OP... Don't even know where to begin but here is my best shot.

Yes... the payment remains exactly the same over three years (average length of a lease.) That payment also happens to be, in general, 50 percent lower than the payment of a retail auto loan for the same vehicle. No, the manufacturer/finance company is not being a "nice guy," leases help them sell cars because of the reduced payment. It also brings a higher return as the rent charge (you could call it interest for simplicity's sake) stays constant over the life of the lease. With a retail loan the principle is reduced as you pay the loan off therefore the interest is lower and lower as the loan is paid down.

From a consumer standpoint you get a brand new car that will be under warranty for the life of the lease. At the end you turn the vehicle in and pay a disposition fee as well as any mileage you went over the contracted amount and wear and tear. If you "bought" the car you would be responsible for the entire value of the vehicle. This becomes a problem when the value of your vehicle is lower than what you currently owe when you want to trade it in. This will almost always be the case. With a lease you get to turn it in regardless of its equity position and owe nothing further (other than what was stated above.)

If you purchase brand new vehicles, tend to trade them in every few years, and take good care of them it can be a great deal.

[milesgiles1]

leasing can and is a good decision depending on how you use it (people usually don't use it correctly)

let's say you have 5 million and you want a lamborghini

you could just buy one, no problem

however:

you would prioritize buying a house AND

buying a lambo would cut out 300k from your account immediately

why not just lease it, pay about 4k a month and put the rest (250k) in a place that could potentially give you 4k a month? with 250k you can easily morgage two houses, rent it out and that would give you a solid return each month (maybe not the 4k) but you'd in addition have two houses

investing in property is the easiest way to explain but there are many other things you can invest the money in, anyways the point is to reach a level of return where you have the lambo + something else with the money you otherwise would have just spent on a lambo



IF you are on the level where you have.. let's say 500 million and you can simply say that 300k is nothing, THEN you can buy the lambo in cash and whatnot, however dont stunt just to say you did to, be smart


edit: rip OP is red now

Your maths is so far off it's hilarious